What a year it has been!
The Naples/Bonita Springs/Estero real estate markets have been on fire. Downing-Frye Realty has been leading the way. Downing-Frye agents have participated in over $1 Billion in sales again in 2013 and we have also had over 3,500 transactions. The Brown Realty Group has been a significant part of that with sales of nearly $12 Million dollars. This has been a record year for closings in a non-bubble year (i.e. normal year).
Nationally, new housing starts are the highest since 2008. Housing starts rose almost 23% last month, touching their highest level in more than 5 years and further demonstrating the housing markets’ growing strength. Housing starts also hit a seasonally adjusted annual rate of 1.09 Million, topping October’s revised estimate of 889,000 and rising above 30% from the year before according to the Commerce Department. November’s rate was the highest since February of 2008 and marked only the second month in the past four years that the annual rate cracked the 1 Million mark. Building permits, which indicate future construction, were again above 1 million units in November.
On a more local level, one must just drive a few miles down the street to see all the new construction taking place. Stock Development is but one example of a hot new home construction boom. In the north Naples’ development of Quail West, Stock Development has had over 100 sales worth in excess of $110,000,000. In 2013, the unprecedented sales activity by Stock, in Quail West, represents an increase of nearly 1200% over 2012.